This study is designed to evaluate the efficacy of three different therapies in the treatment of depression in the elderly. The study is an extension of a two year pilot study designed to demonstrate the feasibility of psychotherapy in treating severe depression in older persons. The therapies to be evaluated include: Cognitive Therapy developed by Dr. Aaron Beck; Behavioral Therapy developed by Dr. Peter Lewinsohn; and Brief Psychodynamic Therapy developed by Dr. Mardi Horowitz. Patients in this Study will be diagnosed as having major depressive disorder, and will be over the age of 65. One hundred and eighty patients will be treated in one of the three conditions mentioned above. An additional 40 patients will be included in a wait list control condition for a six week period. The course of therapy is four months. Following therapy, half of the patients in each condition will receive maintenance sessions during a three month period, and the remainder will be followed. All patients will be followed for a one year period, with evaluations occurring at six weeks, three months, six months and one year post treatment.